Top 10 Split Trust Announces Semi-Annual Results
16 8월 2012 - 9:30PM
Marketwired
Top 10 Split Trust (the "Fund") (TSX:TXT.PR.A)(TSX:TXT.UN)
announces results for the six months ended June 30, 2012. The net
decrease in net assets from operations amounted to $(0.2) million
or $(0.16) per unit. Net assets were $13.56 per Combined Security,
net of distributions to securityholders in the amounts of $0.39 per
Preferred Security and $0.06 per Capital Unit.
The Fund investment objectives for the Capital Units are (i) to
provide holders of Capital Units, upon redemption, with the benefit
of any capital appreciation in the market price of the securities
in the Financial Portfolio and (ii) to pay quarterly distributions
to holders of Capital Units in an amount targeted to be 7.5% per
annum of the net asset value of the Fund. The Fund's investment
objectives for the Preferred Securities are (i) to pay holders of
Preferred Securities fixed quarterly cash interest payments of
6.25% per annum on the $12.50 principal amount of a Preferred
Security and (ii) to repay the principal amount of $12.50 per
Preferred Security on termination of the Fund.
The Fund employs a proprietary investment strategy, Strathbridge
Selective Overwriting ("SSO"), to enhance the income generated by
the portfolio and to reduce volatility. In addition, the Fund may
write cash covered put options in respect of securities in which it
is permitted to invest.
The Fund's investment portfolio is managed by its investment
manager, Strathbridge Asset Management Inc. The Fund's Preferred
Securities and Capital Units are listed on Toronto Stock Exchange
under the symbols TXT.PR.A and TXT.UN respectively.
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Selected Financial Information: ($ Millions)
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Statement of Financial Operations
For the six months ended June 30, 2012
(Unaudited)
Revenue $ 0.5
Expenses (0.2)
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Net Investment Income $ 0.3
Net Gain on Investments 0.1
Preferred Security Interest (0.6)
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Net Decrease in Net Assets from Operations $ (0.2)
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For further information, please contact Investor Relations at
416.681.3966, toll free at 1.800.725.7172 or visit
www.strathbridge.com.
Commissions, trailing commissions, management fees and expenses
all may be associated with investment funds. Please read the
prospectus before investing. Investment funds are not guaranteed,
their values change frequently and past performance may not be
repeated.
Contacts: Strathbridge Asset Management Inc. Aaron Ho
Vice-President, Finance 416.681.3966 or 1.800.725.7172 Strathbridge
Asset Management Inc. 121 King Street West, Suite 2600 Toronto,
Ontario, M5H 3T9info@strathbridge.com www.strathbridge.com
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